According to an August 26 post by EigenDA on the X Platform, EigenDA, the data availability protocol for EigenLayer, now supports re-staking of native tokens for the Layer 2 scaling network, in addition to Ether (ETH) and EigenLayer’s native EIGEN token.
According to the post, “The team can now re-stake ERC-20 tokens to secure a custom quorum for rollups, providing stronger security for rollup users and token yields for token holders.”
EigenDA is a “data availability layer” that operates on top of EigenLayer’s ETH re-staking platform, designed to reduce the costs of storing and accessing on-chain data for Ethereum’s Layer 2 scaling solutions. According to the blog post, its mission is to “enable trusted, scalable, and secure data availability (‘DA’) to flourish.”
The cost of securely storing and accessing transaction data has been a serious bottleneck for layer 2 scaling chains. In March, Ethereum’s Dencun upgrade attempted to solve this problem with temporary off-chain data storage called “blobs.” Other protocols, such as Celestia, offer competing solutions.
EigenLayer bootstrapped almost .75 billion in TVL. Source: DefiLlama
relevant: EigenDA from EigenLayer claims to reduce data prices by 10x.
Re-staking involves taking already staked tokens (posting them as collateral to validators for rewards) and using them to secure another protocol at the same time. According to DefiLlama, EigenLayer currently holds approximately $12.75 billion in total locked value (TVL).
EigenDA was the first and largest “Actively Verified Service” (AVS) launched on EigenLayer. According to the EigenLayer website, it is secured by approximately 3.6 million re-staken ETH and 71.5 million EIGEN contributed by over 128,000 stakers.
EigenDA allows you to create custom consensus mechanisms (or “quorums”) to securely store and access data on Layer 2 through native token re-staking. This also expands the range of tokens that can earn rewards from re-staking.
According to the post, “With the addition of custom ERC20 token quorums to EigenDA, you will be able to choose to support staking other tokens in the same way you can stake ETH and EIGEN tokens.”
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